Global Chlor Alkali Market Report 2023: Sector is Expected to Reach $103.07 Billion by 2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Chlor Alkali Market: Analysis By Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.

The global chlor alkali market was valued at US$76.21 billion in 2022. The market value is expected to reach US$103.07 billion by 2028.

The chlor-alkali process is an industrial process that splits salt (NaCl, also called sodium chloride) and water (H2O) into chlorine (Cl2), caustic soda (NaOH, also called sodium hydroxide), and hydrogen (H2). Chlorine and caustic soda are commodity chemicals used in many applications.

The chlor-alkali industry is constantly developing new applications for its products. For instance, chlor-alkali products are used in the production of solar panels, which are becoming increasingly popular as a source of renewable energy.

The combination of increasing demand from various industries, the need for clean water treatment solutions, sustainable practices, and the expansion of emerging economies along with technological innovations is expected to contribute to the growth of the chlor alkali market. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2023-2028.

Competitive Landscape:

The global chlor alkali market is highly competitive and fragmented, with several key players operating on a global scale. The key players in the global chlor alkali market are:

• Solvay SA
• The Dow Chemical Company
• Olin Corporation
• Occidental Petroleum Corporation
• Tata Chemicals Limited
• Hanwha Chemical Group
• Tosoh Corporation
• Westlake Corporation
• SABIC
• The AGC Group
• Ineos Group (Inovyn)
• Formosa Plastics Corp.

Key Attributes:

Market Dynamics

Growth Drivers

• Increasing Chlorine Production
• Rising Demand For Alumina
• Growing Pharmaceutical Industry
• Rapid Urbanization
• Growing Water Treatment Market
• Escalating Paper and Pulp Market

Challenges

• Stringent Environmental Regulations
• Shift Towards Sustainable Practices from Traditional Chlor Alkali Processes

Market Trends

• Growing Demand for Green Chlor Alkali Products
• Technological Advancements
• Expanding Product Diversification and Value-added Solutions
• Increasing Demand for Polyvinyl Chloride (PVC)

Market Segmentation Analysis:

• By Type: The report provides the bifurcation of the market into four types: Caustic Soda, Chlorine, Soda Ash, and Others. Caustic soda held the highest share of the market. Also, it is expected to be the fastest-growing segment in the forecasted period. Caustic soda is a versatile chemical used in the production of various other chemicals, such as dyes, pigments, pharmaceuticals, plastics, and solvents. The growth of chemical manufacturing industries across the globe has a positive impact on the caustic soda market, driving the demand for chlor alkali products. Chlorine is widely used for water treatment and disinfection purposes. It effectively kills bacteria, viruses, and other microorganisms, making it essential for ensuring safe drinking water and maintaining sanitary conditions in swimming pools, wastewater treatment plants, and industrial water systems. As the demand for clean and safe water increases globally, the demand for chlorine grows.
• By Region: The report provides insight into the chlor alkali market based on the regions namely, Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific held the major share of the market in 2022. Like so many other chemical products, caustic soda is also dominated by China – in both supply and demand. The northeast Asian region (China) is a net exporter of caustic soda to Australia, Southeast Asia, and the US West Coast. China has the largest caustic soda production capacity in the world, accounting for almost half of global capacity. Thus, the increasing production capacity of caustic soda contributes to the growth of the overall chlor alkali market in China.
• The US has experienced a significant increase in shale gas production in recent years. Chlor alkali production heavily relies on chlorine, which is derived from the electrolysis of salt (sodium chloride). The availability of low-cost and abundant chlorine feedstock derived from shale gas has positively impacted the chlor alkali market, making it more cost-competitive and supporting its growth.
• Germany has some of the strictest environmental regulations in the world. This has led to an increased demand for green technologies in the chlor alkali industry, as companies look to reduce their environmental impact. Also, the German government offers a number of economic incentives for companies that adopt green technologies. This includes tax breaks, grants, and loans.

For more information about this report visit https://www.researchandmarkets.com/r/m4m1ia

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